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Saving regularly 'is a good habit'
23 June 2008
Consumers should put away money on a regular basis in order to get into a saving habit, according to finance researchers.
By putting just a small amount of money aside each month, consumers can begin an important habit which could help them for the rest of their financial lives.
Richard Brown, chief executive of moneynet.co.uk, said: "A regular savings habit is a brilliant habit, even if it is only £10 or £20 a month, at least you have made a start."
While 49 per cent of consumers think it is a bad time to save during the credit crunch, according to Nationwide, putting money away now will demonstrate the benefits of saving for future years.
"It's not a lot of money, but it gets you in a habit for when you are in a position of earning more money. It's just good housekeeping," Mr Brown added.
Research by Nationwide revealed that only 50 per cent of consumers save on a regular basis.
